Ifma Foundation

Analysis

Ifma Foundation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in March 1992, 34 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Ifma Foundation reported income of $508k and spending of $704k, spending 139% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $510k to $508k (-0.3%), an average of -0.1% a year. The sharpest change came in the year to June 2022, when income rose by 74%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ifma Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Virginia Ship Repair Foundation Inc ($508k), Birchwood Camp of the Alaska United Methodist Conference Inc ($508k) and Benjamin Hershey Memorial Convalescent Home ($508k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 135% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $100k (14% of expenses). Other salaries and wages came to $117k. At year end it held assets of $1.3m against liabilities of $27k, net assets of $1.3m. It reported 3 employees.